What is HC Wainwright’s Forecast for CareDx FY2024 Earnings?

CareDx, Inc (NASDAQ:CDNA) – HC Wainwright reduced their FY2024 earnings per share (EPS) estimates for shares of CareDx in a research note issued on Tuesday, January 14th. HC Wainwright analyst Y. Chen now anticipates that the company will earn ($1.11) per share for the year, down from their prior estimate of ($0.71). HC Wainwright has a “Neutral” rating and a $26.00 price target on the stock. The consensus estimate for CareDx’s current full-year earnings is ($0.70) per share. HC Wainwright also issued estimates for CareDx’s Q4 2024 earnings at ($0.62) EPS, Q1 2025 earnings at ($0.12) EPS, Q2 2025 earnings at ($0.09) EPS, Q3 2025 earnings at ($0.07) EPS, Q4 2025 earnings at ($0.04) EPS and FY2025 earnings at ($0.31) EPS.

CareDx (NASDAQ:CDNA) last announced its earnings results on Monday, November 4th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.25) by $0.11. CareDx had a negative net margin of 45.90% and a negative return on equity of 53.70%. The company had revenue of $82.88 million during the quarter, compared to the consensus estimate of $80.04 million. During the same quarter in the prior year, the company posted ($0.43) earnings per share. The firm’s revenue for the quarter was up 23.4% on a year-over-year basis.

CDNA has been the subject of a number of other research reports. BTIG Research reduced their price objective on CareDx from $40.00 to $35.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. The Goldman Sachs Group increased their price target on shares of CareDx from $26.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Wells Fargo & Company raised shares of CareDx from an “underweight” rating to an “equal weight” rating and lowered their price objective for the stock from $28.00 to $24.00 in a research report on Wednesday. Finally, StockNews.com upgraded shares of CareDx from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $28.33.

CareDx Trading Down 2.8 %

Shares of CDNA opened at $21.44 on Friday. The stock has a 50 day moving average of $22.90 and a 200 day moving average of $24.52. The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of -7.94 and a beta of 1.86. CareDx has a 12 month low of $7.42 and a 12 month high of $34.84.

Insider Buying and Selling

In related news, Director Peter Maag sold 5,000 shares of CareDx stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $25.00, for a total transaction of $125,000.00. Following the completion of the sale, the director now owns 330,024 shares of the company’s stock, valued at approximately $8,250,600. This trade represents a 1.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. SG Americas Securities LLC lifted its holdings in shares of CareDx by 31.0% during the 4th quarter. SG Americas Securities LLC now owns 24,087 shares of the company’s stock worth $516,000 after acquiring an additional 5,706 shares during the last quarter. ARS Investment Partners LLC grew its holdings in shares of CareDx by 6.3% in the fourth quarter. ARS Investment Partners LLC now owns 101,968 shares of the company’s stock worth $2,183,000 after purchasing an additional 6,083 shares during the last quarter. Principal Financial Group Inc. purchased a new position in shares of CareDx in the third quarter worth $557,000. Lord Abbett & CO. LLC bought a new stake in CareDx during the 3rd quarter valued at $10,873,000. Finally, Franklin Resources Inc. boosted its position in CareDx by 34.4% during the 3rd quarter. Franklin Resources Inc. now owns 59,474 shares of the company’s stock valued at $1,862,000 after buying an additional 15,238 shares during the period.

CareDx Company Profile

CareDx, Inc engages in the discovery, development, and commercialization of diagnostic solutions for transplant patients and caregivers in the United States and internationally. It also provides AlloSure Kidney, a donor-derived cell-free DNA (dd-cfDNA) solution for kidney transplant patients; AlloMap Heart, a gene expression solution for heart transplant patients; AlloSure Heart, a dd-cfDNA solution for heart transplant patients; and AlloSure Lung, a dd-cfDNA solution for lung transplant patients.